Project Description
The project involves an investment of u to $30 million to Transportadora de Electricidad, S.A. (TDE), a private Bolivian electricity transmission company. TDE has approximately 2,000 km of high voltage transmission lines and 19 substations. TDE was privatized in 1997 pursuant to a competitive bidding process won by Union Fenosa of Spain. In June, 2002, Red Electrica Internacional (REI), a wholly-owned subsidiary of Red Electrica de Espana (REE), acquired 99.4% stake of TDE.
The purpose of the project is to finance a program of investments to help eliminate transmission constraints, improve system reliability, and reduce line losses, as well as to assist REI, in conjunction with other debt and equity sources, refinance the acquisition bridge financing. Although this is a corporate loan, it is possible in the future that TDE may become involved in the construction of transmission lines.